Sobha LLC
| Company type | Private |
|---|---|
| Industry | Real estate |
| Founded | 1976 |
| Founder | PNC Menon |
| Headquarters | , |
| Services | Commercial and residential property development |
| Revenue | US$1billion |
| Website | www |
Sobha Group LLC is a GCC based real estate developer headquartered in Dubai . The company was established in 1976 as an interior decoration firm in Oman by Mr P.N.C. Menon.[1][2][3] The company is functional in the UAE, Oman, Bahrain, and Brunei. Sobha Group LLC was the subject of a case study at Harvard Business School.[4] It recorded a sales target of US$1 billion in 2021.[5][6][7][2]
Sobha Realty has been credited for incorporating digital transformation in the real estate sector and reinventing the value chain by utilizing its built-in conceptualization, design, and development capabilities.[8]
The company uses a backward integrated model to ensure high standards in quality across projects.[9]
Sobha Realty signed a charitable grant agreement with a UAE backed aid programme foundation, a pact under which they will construct a university in Dubai at a cost of 400-million UAE Dirham over the next four years. Sobha Realty and UAE’s Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) will also establish a 1 billion UAE Dirham endowment fund, which is intended to support the education of millions.[10][11][12][13]
Key People
[edit]Mr P.N.C. Menon is the Founder and Chairman of Sobha Group LLC. P.N.C. Menon hails from Palakkad in Kerala, and established Sobha Group, a multinational real estate and construction group with diversified investments in the UAE, Oman, Bahrain, Brunei, and Tanzania.[6][14][15][16]
Masterplan Communities
[edit]Sobha Hartland
[edit]Sobha Realty is currently developing Sobha Hartland, a community spread across eight million square feet launched in 2014 in the heart of Dubai, as part of the Mohammed Bin Rashid Al Maktoum City (MBR City) master development. The project, which is estimated at US$4 billion, with 2.4 million square feet of its total land area encompassing over 300 different species of plants and trees. The development also houses the Hartland International School and North London Collegiate School Dubai.[17][18][16]
District One
[edit]The Meydan Sobha “District One” project was launched in Phase-1 and Phase-2, with an overall value of US$8 billion.[19][20]
References
[edit]- ^ Abbas, Waheed. "Sobha Realty sees sales climb to Dh12 billion next year". Khaleej Times.
- ^ a b Farooqui, Mazhar. "How Omani business partner's tips helped Sobha Realty owner tide over his misfortunes". Khaleej Times.
- ^ John, Issac. "Sobha unveils 'S' tower for luxury living in Dubai". Khaleej Times.
- ^ Sobha Group Real Estate: Backward Integration for Quality Harvard Business Publishing Education
- ^ Rahman, Fareed (March 6, 2022). "Sobha Realty targets $1.6bn in sales this year as Dubai property market rebounds". The National.
- ^ a b Salian, Neesha (May 5, 2022). "Sobha Realty's Francis Alfred on the demand for luxury properties in Dubai".
- ^ Release, Press. "Sobha Realty sets a 50 per cent increase in sales target for 2022". www.zawya.com.
- ^ Emmanuel, James (August 29, 2019). "UAE property developer Sobha plans initial public offering". www.ibtimes.co.in.
- ^ Rahman, Fareed (November 10, 2021). "Cityscape 2021: Sobha Realty to build new $4bn mega project in Dubai next year". The National.
- ^ Chatterjee, Aneeka (March 19, 2024). "Sobha Realty ties up with UAE's MBRGI, to build university in Dubai". business-standard.com. Retrieved 2024-08-28.
- ^ "Sobha Group to set up Rs 900-crore endowment university in Dubai". March 20, 2024 – via The Economic Times - The Times of India.
- ^ "Sobha Realty to build university in Dubai". March 20, 2024.
- ^ "Sobha Group signs charitable agreement for endowment university in Dubai". April 4, 2024 – via The Economic Times - The Times of India.
- ^ Disha Dadlani (9 June 2021). "2021 CW Power 100: Sobha's Francis Alfred is at no. 34". Construction Week. Retrieved 7 April 2023.
- ^ "Pioneering Excellence". Khaleej Times.
- ^ a b Godinho, Varun (August 31, 2019). "UAE's Sobha Group founder and chairman: Taking the long view | UAE News".
- ^ "Lifestyle Designs Par Excellence". Khaleej Times.
- ^ "Dubai developer Sobha Realty seals $1b in 2021 sales". gulfnews.com.
- ^ Anderson, Robert (August 16, 2017). "Developer Sobha Group plans Oman project, to expand outside real estate | UAE News".
- ^ "AZCO Group marks their expansion with a full floor office in Vision Tower, Business Bay". Khaleej Times.